How much does Constellation charge for help?
Our fee is a monthly $100 subscription for a 12 month period. Throughout this time we work towards saving you AT-LEAST the full $100/month and every Dollar over that then is invested.
What if you can’t save me more than $1201?
If we don’t believe we can save you more than $1201, then we won’t propose our services to you. We’d be more than happy to recommend you elsewhere though.
How long will it take to get my savings?
Depending on the complexity of your products and how many you have, it can take time. However, a good anchor point is around 1 month once a product has been accepted for change.
How long will it take to get my proposal?
We endeavour to get back to you within 48 hours.
Where do you invest my savings?
We invest your savings into a Separately Managed Account (SMA) via our partner Praemium. We'll let you select your own investment risk appetite and then make the investment for you.
Do I have to invest my savings?
Certainly not, you can opt to take your savings out as cash when they are saved!
Isn't this the same process as a comparison website?
The information you give us on one form can be used on 56 financial products instead of each individual comparison - so it's actually faster. Also, comparison websites don't show ALL deals, they show the deals that they have partnerships with and the ones who pay to be there. We are only looking after your situation, not the product providers.
How do you get better rates than other providers?
Most products pay a commission, fee or rebate to the agent that sells the product. Many comparison sites keep these margins and it’s often how they make money. Our difference is that by paying a fixed annual fee we make our money in a clear and transparent way - you pay us. As a result, any and all commissions, rebates or benefits come back to you. As a guide - the average mortgage includes around 0.5% ongoing trail depending on your mortgage this could be more than $1,000 per year.
Why do we have to pay a subscription?
A subscription model allows us to keep you at the top of our priority list. Because it is you that pays us, we only care about creating the best possible outcomes for you. If we took commissions, then we would be looking after the providers first and you second.
Why is it a year-long subscription?
Most products require you to stay with them for at least one year once you have chosen them. It makes sense that if you make changes with us, that you stay with us for that year to see out the initial benefits.
Why is the price $100/month?
$100/month is achievable for almost anyone on a full-time salary. $100/month also allows us to employ amazing people to get out there to do research and get you the best possible deals.
Where are you investing my savings?
We construct portfolios of direct shares and bonds which offer a low cost, managed solution for your savings. You can also choose to invest directly into index funds for a low cost market based return.
When can I get my savings out?
Technically there is nothing to stop you making a withdrawal straight away however under the terms of our contract we may have to invoice you if you cancel or reduce your products with us within 12 months or even up to 2 years. Why is this so? Because if we receive a commission and pass that commission to you we wear the risk of a “claw back” meaning that if you cancel the policy or change your mortgage the product provide will invoice us for the commission they paid, basically they ask for it back. In all cases you can choose - either to have us receive commissions and invest them for you or to simply not be charged these commissions and enjoy cheaper prices from day 1.
What happens if there is a “clawback” and the market falls so my investment balance doesn’t cover the cost?
In the event that you cancel your policy or change products due to illness, disability or losing your job we will just wear the risk and not invoice you for the difference (because it just seems cruel) but if you change your products or cancel a policy because you simply changed your mind we will invoice for the difference.
What kind of products are you offering?
At the outset we are only offering specific products that are the most used by our preferred clients. Over time we will be building out more products. There are more than 50 available products on the market including things such as budgeting apps - and we will be making them available sooner or later.
How are you choosing the products?
For superannuation and investment we have a specialist arrangement with Enva Australia who issue a product for us to you. However for the most part we can and will use any product in the market that we can get access to the forms for. You can request we move anything to anything else and we will take care of it for you.
Are you licensed?
Our business is an authorised representative of Enva Australia AFSL 424494. Enva Australia is a specialised financial planning business based in South Australia.
It seems too good to be true?
Not really, you are paying us a fee to work for you. The fee covers our time to provide administration and general advice. By paying for a regular subscription you know we are working for you and not someone else.
How often can I change products?
Really, as often as you’d like - however unless there is a good reason to move it’s generally best that you keep the products you have. Many investment and superannuation products are designed to be held for 5 years +. With life insurance you risk not being covered for a new condition if you change cover so we suggest you obtain specialist advice (which we can provide) if you are not sure.
Do I have to be working full time?
It is preferable, as it ensures that you have enough money to pay for our support and also makes it easier to get certain products accepted.
Why do you ask health related questions?
A healthy, non-smoker is preferable, as it easier to get certain products accepted.
What happens once you have optimized the products I have?
We will continually search for new products on the market, give you updates on how well your investments are going, develop interesting content specific to your interests and needs AND try to continue negotiating better deals for you.
What is your cancellation policy?
After one year you can leave us with no problem, prior to that - you’ll just need to pay out what is left of the $1200.
Where are you based?
We are based here in Australia, mainly between Brisbane and Adelaide.
Am I forced to use your investment products or super?
No. We present them to you under “general advice” which means we do not take into account your personal circumstances when offering these solutions. They may or may not suit your needs and like any product you should consider the product disclosure statement be proceeding.
What service do I receive for my annual fee?
You will have access to our administration team who can complete any paperwork and process for you without you having to call an insurance company, super fund, investment provider or accountant ever again. Anything you need to do – just call us and we will take care of the paperwork – that’s the service.
If you want to buy/sell or close any product you can simply provide us with those instructions and we will find the paperwork and complete the applications we have on file. While we will, for the most part simply follow your instructions if we see a request that we believe would result in a significant risk to you, a high chance of loss or an inappropriate investment (for example a request to setup an SMSF for a person with a low balance) we may call you directly to confirm the instruction, refer you to a qualified professional or decline to assist.
We also offer fraud protection as we will check any withdrawal requests with you personally before processing them and assign a personal case manager who will get to know you and your requests over time.
Because you will have once team looking after your affairs rather than multiple connections to multiple businesses we can monitor many risks to you including fraud, financial stress, personal tragedy or illness such as drug use or gambling.
You will also be able to send us any receipts you have and know straight away if it can be claimed as a deduction rather than having to wait until the end of the year.
What we do not do is provide you with personal financial advice – unless you engage a qualified financial adviser (which we can refer you to) none of the services we provide will take into account your specific circumstances or goals.
We will however provide general advice and, where possible “intra fund advice”. This means we will be here to tell you how a product works, what features or benefits it might have, how superannuation rules work, what rules have changed and many other things. Our service is your hotline to nearly all financial services and products.
Is my fee an ongoing fee agreement similar to a fee charged by a financial adviser?
We do not profess to provide personal financial advice or charge an ongoing advice fee as defined by the regulator. This arrangement, including the provision of fee disclosure statement is designed for people paying financial adviser under an ongoing arrangement to monitor their investments and meet with them annually for a review. Our service offer is an administration and general advice service only – we do not provide ongoing financial advice or services and you must renew your arrangement with us each year. After the first 12 months the arrangement with us is on a month to month contract.
Will I receive a financial services guide?
Yes, our service offer will still be a financial service or product as defined by the corporations act so clients who sign on to our service will receive a financial services guide that outlines our service, your rights and our obligations.
Our Financial Licenses are through Enva Holdings Pty Ltd ABN 35 002 976 294; AFSL 234665